#restructuring

#restructuring

The last few years have seen a slew of bankruptcies at popular restaurant chains, but the industry downturn is also spreading to some smaller upscale concepts. Popular chain restaurants that went bankrupt in the past year have included Bucca Di Beppo, TGI Fridays, and Red Lobster, and even chains that haven't gone bankrupt, like Denny's and Applebee's, have been closing stores. There is no one cause for the whole industry; a perfect storm of rising costs and the disruption of the pandemic has made keeping sit-down restaurants open harder than ever, and those trends also came for the vegan chain Planta.

Health and beauty retailer Bodycare is facing administration, putting over 100 stores across the UK and 1,500 jobs at risk. It is anticipated that the retailer, which was established over 50 years ago on a Lancashire market stall, will appoint administrators from Interpath Advisory as early as Friday. Bodycare, which specialises in offering skincare, cosmetics, toiletries, and fragrances, has over 1,500 employees and operates over 100 outlets nationwide.

As of October 2024, YouTube had more podcast listeners than Spotify or Apple Podcasts, signaling a shift in the podcasting landscape towards video content.

Amazon is executing a separation of teams within Wondery to better integrate into Amazon and support creators in monetizing their content across multiple channels.

Chief Jim McDonnell reshuffled the upper ranks of the LAPD, promoting three deputy chiefs and reviving a Human Resources Bureau previously disbanded in 2004.

The restructuring aims to create an integrated administrative framework for addressing California's housing and homelessness challenges, aligning programs with transportation, climate, and health policies.

Stephen Ehikian stated, "the build back isn't just bringing it back to where it was before; it is rethinking the GSA," indicating a transformative approach to restructuring the agency.

The US state department plans to move forward with mass layoffs, affecting nearly 15% of its domestic staff, as part of a significant restructuring initiative.

PwC Advisory is excited to announce the expansion of our services to better support our clients and meet evolving market demands.”

The evolution of our business - from one largely comprised of forever-hold, balance sheet assets to a mix that also includes properties held in fund strategies with varied hold periods and return goals - has led us to examine our organizational structure.

The ongoing struggles of pharmacy chains are evident as major players like CVS, Rite Aid, and Walgreens announce widespread store closures, reflecting the challenging retail landscape.

Luminar, undergoing a significant restructuring and workforce reduction, has started additional layoffs as part of ongoing operational challenges following a leadership change.

Evgeny Lebedev has pledged to support the Standard financially after significant losses, aiming to sustain the newspaper through its restructuring and ensure its daily operations.

Allison Greene, the chief executive of Peace Corps, stated that significant restructuring efforts are expected following the Department of Government Efficiency's assessment of the agency.

We've seen about 3,000 people leave. We've rehired some people, but currently, we are probably looking for a back-end loading to see how the situation on the trade dispute will evolve.